Invoicing is a vital function that impacts cash flow, profitability and growth. Regardless of a business’ size, it’s a process that must be completed efficiently and accurately. Getting it wrong can prove incredibly costly as it can alienate customers and end relationships.
When Manual Invoicing Goes Wrong
Imagine your business has provided products to a customer but the physical invoice you sent is incorrect. The customer requests a correction, but you cannot retrieve the document so a new one has to be created. This might take a few days, maybe even a week.
After sending the new invoice, again via the post, your customer then has to scan it or enter the information into their accounting software manually; this takes up valuable time that they would rather spend elsewhere. As you have difficulty tracking invoices, accidently, you might even begin chasing the customer based on the terms of the original document; causing friction with your customer.
You receive payment but the relationship has been soured; the customer doesn’t return and purchases from a competitor.
Going Digital Ensures Accurate Bills That Can be Settled Promptly
With the right technology in place, the scenario would have played out very differently...
Using your automated invoicing software, you generate an accurate invoice, which is then sent digitally to the customer, in their preferred format. The bill is both emailed and uploaded to a web portal which you and the customer have unrestricted access to. Every time a new invoice is uploaded, the customer receives an alert so that they know it’s there and will remain stored for up to one year.
When they open the document, you get a ‘read’ notification meaning you don’t need to follow-up and check that it’s been received. The customer effortlessly uploads the invoice to their accounting system and processes payment.
Web-based tools that enable the creation and distribution of invoices ensure that accurate bills are always going to the right recipient via their preferred physical or digital channel. This strengthens relationships and empowers suppliers and customers alike to focus their resources on core business operations.
You can learn more about Neopost’s invoicing solutions and book a demo here: